ACCOUNTT - Pages for Filing

Registered number: 11734780 (England & Wales)

	CAPE PROJECTS LTD
	DIRECTOR'S REPORT AND UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MARCH 2025

	Pages for Filing with Registrar


CAPE PROJECTS LTD

CONTENTS

	Page
Company information	1
Balance sheet	2
Notes to the financial statements	3 - 6


CAPE PROJECTS LTD

COMPANY INFORMATION

Director	Paul J Goswell


Registered number	11734780


Registered office	40 Queen Anne Street
	London
	W1G 9EL


Accountants	Lewis Golden LLP
	40 Queen Anne Street
	London
	W1G 9EL

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Registered number: 11734780 (England & Wales) CAPE PROJECTS LTD

BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Investment property	4		2,640,000		2,565,000
Current assets
Debtors	5	14,126		29,948
Cash at bank and in hand		275,720		542,103
		289,846		572,051
Creditors: amounts falling due within one year	6	(2,088,432)		(2,496,748)
Net current liabilities			(1,798,586)		(1,924,697)
Deferred tax	7		(177,967)		(159,217)
Net assets			663,447		481,086

Capital and reserves
Called up share capital	1	1
Profit and loss account	663,446	481,085
	663,447	481,086

The Director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and the member has not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the Director's Report and Profit and Loss Account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the Director:

Paul J Goswell

Director

Date: 27 November 2025

The notes on pages 3 to 6 form part of these financial statements.

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CAPE PROJECTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Cape Projects Ltd is a private company limited by share capital, incorporated in England & Wales, registered number 11734780. The address of the registered office is 40 Queen Anne Street, London W1G 9EL.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A - small entities of Financial Reporting Standard 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' ('FRS 102') and the Companies Act 2006.

2.2

Going concern

At 31 March 2025, the company had net current liabilities of £1,798,586. Included within creditors falling due within one year is a loan of £1,997,855 due to Penninsula Projects Limited, its parent undertaking. The Director of Penninsula Projects Limited has confirmed that they do not seek repayment of the loan until the company is in a position to make such a repayment without jeopardising its ability to continue as a going concern. As a result the Director is of the opinion that the financial statements should be prepared on a going concern basis.

2.3

Turnover

Turnover represents amounts receivable in respect of rent, net of VAT.

2.4

Investment property

Investment property is carried at fair value determined annually by the Director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Profit and Loss Account.

2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Cash at bank and in hand

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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CAPE PROJECTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.8

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of finanical assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting year for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset, with the net amounts reported in the Balance Sheet when there is a legally enforceable right to set off the recognised amount sand there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2.9

Current and deferred taxation

Tax is recognised in the Profit and Loss Account.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Employees

The average monthly number of employees, including the Director, during the year was 1 (2024 - 1).

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CAPE PROJECTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

4.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 April 2024	2,565,000
	Surplus on revaluation	75,000
	At 31 March 2025	2,640,000

The valuation of the investment property at the year end was considered by the Director. The Director is satisfied that the carrying amount of the investment property as at 31 March 2025 is not materially different to open market value.

Debtors

					2025	2024
					£	£


Trade debtors	-	15,355
Other debtors	14,126	14,593
	14,126	29,948

6.	Creditors: amounts falling due within one year
		2025	2024
		£	£

Amounts owed to group undertakings	1,997,855	2,397,855
Corporation tax	42,299	38,427
Other taxation	12,299	6,053
Other creditors	35,979	54,413
	2,088,432	2,496,748

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CAPE PROJECTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

7.	Deferred taxation

		2025
		£

	As at 1 April 2024	(159,217)
	Charged to Profit and Loss Account	(18,750)
	As at 31 March 2025	(177,967)

The provision for deferred taxation is made up as follows:
	2025	2024
	£	£

Timing differences

(177,967)

(159,217)

8.	Related party transactions
	The company has taken advantage of the disclosure exemption available under FRS 102 regarding transactions that have taken place between two or more wholly owned group members.

9.	Controlling party

Penninsula Projects Limited is the parent of the Company. Penninsula Projects Limited is a company incorporated in England and Wales with registered office 40 Queen Anne Street, London, United Kingdom, W1G 9EL.

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